Tower International Insider Sells $170,107 in Stock (TOWR)
Tower International (NASDAQ:TOWR) Insider Paer Malmhagen sold 5,161 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $32.96, for a total value of $170,106.56. Following the sale, the insider now directly owns 1,654 shares in the company, valued at approximately $54,516. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on TOWR. Analysts at Keefe, Bruyette & Woods upgraded shares of Tower International to a “market perform” rating in a research note on Friday, May 9th. Separately, analysts at Zacks upgraded shares of Tower International from a “neutral” rating to an “outperform” rating in a research note on Monday, May 5th. They now have a $30.30 price target on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of Tower International from $30.00 to $33.00 in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.33.
Shares of Tower International (NASDAQ:TOWR) traded down 1.05% during mid-day trading on Tuesday, hitting $33.00. The stock had a trading volume of 184,534 shares. Tower International has a one year low of $16.88 and a one year high of $33.73. The stock’s 50-day moving average is $29.15 and its 200-day moving average is $25.39. The company’s market cap is $679.8 million.
Tower International (NASDAQ:TOWR) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $550.30 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that Tower International will post $2.91 earnings per share for the current fiscal year.
Tower International, Inc is an integrated global manufacturer of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers (NASDAQ:TOWR).
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